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2024 Regular Session
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SJR26
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Oklahoma Senate Bill SJR26

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Oklahoma 2024 Regular Session

Oklahoma Senate Bill SJR26 Compare Versions

Only one version of the bill is available at this time.

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2	2
3	3
4	4		Req. No. 2493 Page 1 1
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53	53		STATE OF OKLAHOMA
54	54
55	55		2nd Session of the 59th Legislature (2024)
56	56
57	57		SENATE JOINT
58	58		RESOLUTION 26 By: Jech
59	59
60	60
61	61
62	62
63	63		AS INTRODUCED
64	64
65	65		A Joint Resolution directing the Secretary of State
66	66		to refer to the people for their approval or
67	67		rejection a proposed amendment t o Section 23 of
68	68		Article X of the Oklahoma Constitution; increasing
69	69		maximum amount deposited into Constitutional Reserve
70	70		Fund; providing for conditional effectiveness;
71	71		providing ballot title; and directing filing.
72	72
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77	77		BE IT RESOLVED BY THE SENATE A ND THE HOUSE OF REPRESENTATIVES OF THE
78	78		2ND SESSION OF THE 59TH OKLAHOMA LEGISLATURE:
79	79		SECTION 1. The Secretary of State shall refer to the people for
80	80		their approval or rejection, as and in the manner provided by law,
81	81		the following proposed amendment to Section 23 of Article X of the
82	82		Oklahoma Constitution to read as follows:
83	83		Section 23. The state shall never create or authorize the
84	84		creation of any debt or obligation, or fund or pay any defi cit,
85	85		against the state, or any department, instituti on or agency thereof,
86	86		regardless of its form or the source of money from which it is to b e
87	87		paid, except as may be provided in this section and in Sections 24
88	88		and 25 of Article X of the Constitution of the State of Oklahoma.
89	89
90	90
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140	140		To ensure a balanced annual budg et, pursuant to the limitations
141	141		contained in the foregoing, procedures are herewith established as
142	142		follows:
143	143		1. Not more than forty -five (45) days or less than thirty -five
144	144		(35) days prior to the convening of each regular session of the
145	145		Legislature, the Sta te Board of Equalization shall certify the total
146	146		amount of revenue which accrued during t he last preceding fiscal
147	147		year to the General Revenue Fund and to each Special Revenue Fund
148	148		appropriated directly by the Legislature, and shall further certify
149	149		amounts available for appropriation which shall be based on a
150	150		determination, in accordance with the procedure herein after
151	151		provided, of the revenues to be received by the state under the laws
152	152		in effect at the time such determination is made, for the next
153	153		ensuing fiscal year, showing separately the revenues to accrue to
154	154		the credit of each such fund of t he state appropriated directly by
155	155		the Legislature.
156	156		Amounts certified as available for appropriation from each fund,
157	157		as hereinbefore provided, shall be ninety -five percent (95%) of an
158	158		itemized estimate made by the State Board of Equalization, which
159	159		shall include all sources of revenue to each fund for the next
160	160		ensuing fiscal year; provided, however, appropriated federal funds
161	161		shall be certified for the full amount of the estimate. Said
162	162		estimate shall consider any increase or decline in revenues that
163	163		would result from predictable changes in the economy.
164	164
165	165
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215	215		Legislative appropriations for any fiscal year, except for
216	216		special appropriations provided for in paragraph 6, 7 or 8 sh all be
217	217		limited to a sum not to exceed the total amount appropriated from
218	218		all funds in the preceding fiscal year, plus twelve percent (12%),
219	219		adjusted for inflation for the previous calendar year. Said lim it
220	220		shall be adjusted for funds not previously approp riated. The limit
221	221		on the growth of appropriations shall be certified to by the State
222	222		Board of Equalization.
223	223		2. Such certification shall be filed with the Governor, the
224	224		President and President Pro Tempore of the Senate, and the Speaker
225	225		of the House of Representatives. The Legislature shall not pass or
226	226		enact any bill, act or measure making an appropriation of money for
227	227		any purpose until such certification is made and filed, unless the
228	228		State Board of Equal ization has failed to file said certification at
229	229		the time of convening of said Legislature. In such event, it shall
230	230		be the duty of the Legis lature to make such certification pursuant
231	231		to the provisions of this section. All appropriations made in
232	232		excess of such certification shall be null and void; provided ,
233	233		however, that the Legislature may at any regular session or special
234	234		session, called for that purpose, enact laws to provide for
235	235		additional revenues or a reduction in revenues, other than ad
236	236		valorem taxes, or transferring the existing revenues or
237	237		unappropriated cash on hand from one fund to another, or making
238	238		provisions for appropriating fund s not previously app ropriated
239	239
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290	290		directly by the Legislature. Whereupon, it shall be the duty of the
291	291		State Board of Equalization to make a determination of the revenues
292	292		that will accrue under such laws and ninety -five percent (95%) of
293	293		the amount of any increase or decrease resulting, for any reason,
294	294		from such changes in laws shall be added to or deducted from the
295	295		amount previously certified available for appropriation fro m each
296	296		respective fund, as the case may be. The State Board of
297	297		Equalization shall file t he amount of such ad justed certification,
298	298		or additional certification for funds not previously appropriated
299	299		directly by the Legislature, with the Governor, with the Pr esident
300	300		and President Pro Tempore of the Senate, and the Speaker of the
301	301		House of Representatives, and such adjusted amount shall be the
302	302		maximum amount which can be appropriated for all purposes from any
303	303		such fund for the fiscal year being certified.
304	304		3. The State Board of Equalization shall meet within five (5)
305	305		days after the monthly apportion ment in February of each year, and
306	306		at that time may adjust the certification, based upon the most
307	307		current information available, and determine the amount of funds
308	308		available for appropriation for that legislative session. At said
309	309		meeting the Board shall determine the limit on the growth of
310	310		appropriations as provided for in this section.
311	311		4. Surplus funds or monies shal l be any amount accruing to the
312	312		General Revenue Fund of the State of Oklahoma over and above the
313	313		itemized estimate made by the State Board of Equalization.
314	314
315	315
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365	365		5. All such surplus funds or monies shall be placed in a
366	366		Constitutional Reserve Fund by the State Treasurer until such time
367	367		that the amount of said Fun d equals fifteen percent (15%) twenty-
368	368		five percent (25%) of the General Revenue Fund certification for the
369	369		preceding fiscal year. Appropriations made from said Fund shall be
370	370		considered special appropriat ions.
371	371		6. a. Up to three-eighths (3/8) of the balance at the
372	372		beginning of the current fiscal year in the
373	373		Constitutional Reserve Fund may be ap propriated for
374	374		the forthcoming fiscal year, when the certification by
375	375		the State Board of Equalization for said forthcoming
376	376		fiscal year General Revenue Fund is less tha n that of
377	377		the current fiscal year certification. In no event
378	378		shall the amount of monies appropriated from the
379	379		Constitutional Reserve Fund be in excess of the
380	380		difference between the two said certification s.
381	381		b. (1) In years when the provisions of subparagra ph a of
382	382		this paragraph are not applicable and the balance
383	383		at the beginning of the current fiscal year in
384	384		the Constitutional Reserve Fund is equal to or
385	385		greater than Eighty Million Dollars
386	386		($80,000,000.00), up to Ten Million Dollars
387	387		($10,000,000.00) may be expended for the purpose
388	388		of providing incentives to support retention of
389	389
390	390
391	391		Req. No. 2493 Page 6 1
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440	440		at-risk manufacturing establishments in this
441	441		state in order to retain employment for residents
442	442		of this state. Such incentives shal l be paid by
443	443		the Oklahoma Tax Commission upon a unan imous
444	444		finding by the Governor, the Speaker of the House
445	445		of Representatives and the Presid ent Pro Tempore
446	446		of the Senate that:
447	447		(a) such incentives have been recommended by an
448	448		independent committee created by the
449	449		Legislature for such purposes as provided
450	450		herein pursuant to criteria set out by law,
451	451		(b) the incentive will result in a substantial
452	452		benefit to this state, and
453	453		(c) payment of the incentive would be in
454	454		accordance with the provisions of this
455	455		subparagraph and laws enacted to implement
456	456		provisions of this subparagraph.
457	457		(2) The independent committee will be composed of not
458	458		less than seven (7) p eople appointed or otherwise
459	459		determined pursuant to laws enacted by the
460	460		Legislature providing for membership on the
461	461		committee. The committee shall make
462	462		recommendations to the Governor, the Speaker of
463	463		the House of Representatives and the President
464	464
465	465
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515	515		Pro Tempore of the Senate for the awarding of
516	516		incentives. Such recommendations shall give
517	517		priority to establishments which :
518	518		(a) are at greater risk of losing jobs because
519	519		the plant is no longer competitive or
520	520		leaving the state and thereby causing the
521	521		loss of more employment in this state than
522	522		other eligible recipients, and
523	523		(b) provide the largest economic impact to the
524	524		state.
525	525		(3) For any fiscal year, the incentives shall not
526	526		exceed ten percent (10%) of the amount invested
527	527		by an establishment in capital assets to be
528	528		utilized in this state. Incentives may only be
529	529		paid pursuant to an investment contract between
530	530		the establishment and a state agency designated
531	531		by law, which provide s for a specified amount of
532	532		investment in a capital asset to be made by the
533	533		establishment over a period of not to exceed five
534	534		(5) years. No incentive payment shall be made
535	535		prior to the actual investment b y the
536	536		establishment. The contract shall make payme nt
537	537		of any incentives in any fiscal year contingent
538	538		on the balance at the beginning of such fiscal
539	539
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589	589
590	590		year in the Constitutional Reserve Fund being
591	591		equal to or greater than Eighty Million Dollars
592	592		($80,000,000.00) and on the certification by the
593	593		State Board of Equalization for such fiscal year
594	594		of the amount available for appropriation from
595	595		the General Revenue Fund being greater than the
596	596		amount certified for the preceding fiscal year.
597	597		Investment contracts author ized by this
598	598		subparagraph shall provide that if any incentive
599	599		payment is payable during a fiscal year in which
600	600		either the balance at the beginning of the fiscal
601	601		year in the Constitutional Reserve Fund is not
602	602		equal to or greater than Eighty Million Dollars
603	603		($80,000,000.00) or when the certification by the
604	604		State Board of Equalization for such fiscal year
605	605		General Revenue Fund is less than that of the
606	606		immediately prior fiscal year certification, then
607	607		any incentive payments which would have been
608	608		payable during such fiscal year shall be payable
609	609		in the first fiscal year when funds are available
610	610		pursuant to the provisions of division (1) of
611	611		this subparagraph. In the event that the amount
612	612		of incentives payable under investment contracts
613	613		authorized by this subparagr aph is greater than
614	614
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665	665		the amounts available for paymen t under this
666	666		subparagraph in a fiscal year, then no new
667	667		contracts may be authorized durin g such year and
668	668		incentive payments which are made shall be
669	669		reduced pro rata as necessary to apply all
670	670		available funds to incentive payments which are
671	671		payable in such year.
672	672		(4) The Legislature is authorized to enact laws
673	673		necessary to implement the provisions of this
674	674		section.
675	675		7. Up to three-eighths (3/8) of the balance at the beginning of
676	676		the current fiscal year in the Constitutional Reserve Fund may be
677	677		appropriated for the current fiscal year if the State Board of
678	678		Equalization determines that a revenue fail ure has occurred with
679	679		respect to the General Revenue Fund of the State Treasury. In no
680	680		event shall the amount of monies appropriated from the
681	681		Constitutional Reserve F und pursuant to this paragraph be in excess
682	682		of the amount of the projected revenue failure in the General
683	683		Revenue Fund, which total amount shall be computed by the State
684	684		Board of Equalization, for the ent ire fiscal year. Monies
685	685		appropriated to any state g overnmental entity from the
686	686		Constitutional Reserve Fund pursuant to this paragraph may on ly be
687	687		made in order to ensure that the monies actually received by the
688	688		entity for the then current fiscal year are equal to or less than,
689	689
690	690
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738	738		24
739	739
740	740		but not in excess of, the tot al appropriation amount for such entity
741	741		in effect at the beginning of the then current fiscal year.
742	742		8. Up to one-quarter (1/4) of the balance at the beginning of
743	743		the current fiscal year in the Constituti onal Reserve Fund may be
744	744		appropriated, upon a declar ation by the Governor that emergency
745	745		conditions exist, with concurrence of the Legislatur e by a two-
746	746		thirds (2/3) vote of the House of Representatives and Senate for the
747	747		appropriation; or said one -quarter (1/4) could be appropriated upon
748	748		a joint declaration of emergency conditions by the Speaker of the
749	749		House of Representatives and the President Pro Tempor e of the
750	750		Senate, with a concurrence of a three -fourths (3/4) vote of the
751	751		House of Representatives and Se nate.
752	752		9. That portion of every appropriation, at th e end of each
753	753		fiscal year, in excess of actual revenues collected and allocated
754	754		thereto, as hereinafter provided, shall be null and void. Revenues
755	755		deposited in the State Treasury to the credit of the General Revenue
756	756		Fund or of any special fund (which deri ves its revenue in whole or
757	757		in part from state taxes or fees) shall, except as to principal and
758	758		interest on the public debt, be allocated monthly to each
759	759		department, institution, board, commission or spec ial appropriation
760	760		on a percentage basis, in that rat io that the total appropriation
761	761		for such department, institution, board, commission or sp ecial
762	762		appropriation from each fund for that fiscal year bears to the total
763	763		of all appropriations from each fund for that fiscal year, and no
764	764
765	765
766	766		Req. No. 2493 Page 11 1
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814	814
815	815		warrant shall be issued in excess of said allocation. Any
816	816		department, institution or agency of the state operating on revenues
817	817		derived from any law or laws which allocate the revenues thereof to
818	818		such department, institution or ag ency shall not incur obligations
819	819		in excess of the unencumbered balance of cash on hand. Nothing in
820	820		this section shall prevent, under such co nditions and limitations as
821	821		shall be prescribed by law, the governing board of an institution of
822	822		higher education within The Oklahoma State System of Higher
823	823		Education from contracting with a president of such institution of
824	824		higher education for periods extending more than one (1) year, but
825	825		not to exceed three (3) years beyond the fiscal year in which the
826	826		contract is signed.
827	827		10. The Legislature shall provide a method wh ereby
828	828		appropriations shall be divided and set up on a monthly, quarterly
829	829		or semiannual basis within each fiscal year to prevent obligations
830	830		being incurred in excess of the revenue to be collected, and
831	831		notwithstanding other provisions of this Constitution, the
832	832		Legislature shall provide that all appropriations shall be reduced
833	833		to bring them within revenues actually collected, but all such
834	834		reductions shall apply to each department, institution, board,
835	835		commission or special appropriation made by the State Legis lature in
836	836		the ratio that its total appropriation for that fiscal year bears to
837	837		the total of all appropriations from that fund for that fiscal year;
838	838		provided, however, that the Governor shall have discretion to issue
839	839
840	840
841	841		Req. No. 2493 Page 12 1
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889	889
890	890		deficiency certificates to the State Tre asurer for the benefit of
891	891		any department, institution or agency of the state, if the amount of
892	892		such deficiency certificates be within the limit of the current
893	893		appropriation for that department, institutio n or agency, whereupon
894	894		the State Treasurer shall iss ue warrants to the extent of such
895	895		certificates for the payment of such claims as may be a uthorized by
896	896		the Governor, and such warrants shall become a part of the public
897	897		debt and shall be paid out of any money appropriated by the
898	898		Legislature and made lawfull y available therefor; provided further,
899	899		that in no event shall said deficiency certificates exceed in the
900	900		aggregate the sum of Five Hundred Thousand Dollars ($500,000.00) in
901	901		any fiscal year.
902	902		SECTION 2. The provisions of S ECTION 1 of this resolution shall
903	903		not become effective if Enrolled Senate Joint Resolution 25 of the
904	904		2nd Session of the 59th Legislature is not approved by the people of
905	905		this state.
906	906		SECTION 3. The Ballot Title for the proposed Constitutional
907	907		amendment as set forth in SECTION 1 of this resolution shall be in
908	908		the following form:
909	909		BALLOT TITLE
910	910		Legislative Referendum No. ____ State Question No. ____
911	911		THE GIST OF THE PROPOSITION IS AS FOLLOWS:
912	912		This measure amends Section 23 of Article 10 of the Oklahoma
913	913		Constitution. It amends the maximum amount which may be
914	914
915	915
916	916		Req. No. 2493 Page 13 1
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964	964
965	965		deposited into a certain fund . The fund is known as the
966	966		Constitutional Reserve Fund. Under current law, the cap is set
967	967		at fifteen percent (15%) of the amount certified for the General
968	968		Revenue Fund for the pri or fiscal year. This would increase the
969	969		cap amount to twenty -five percent (25%). This measure only
970	970		becomes effective if voters approve the measure that creates the
971	971		Taxpayer Allocation Program Fund to provide an income tax credit
972	972		for individual taxpayers contained in Senate Joint Resolution
973	973		25.
974	974		SHALL THE PROPOSAL BE APPROVED?
975	975		FOR THE PROPOSAL — YES _____________
976	976		AGAINST THE PROPOSAL — NO _____________
977	977		SECTION 4. The President Pro Tempore of the Senate shall,
978	978		immediately after the passage of this resolution, prepare and file
979	979		one copy thereof, including the Ballot Title set forth in SECTION 3
980	980		hereof, with the Secretary of State and one copy with the Attorney
981	981		General.
982	982
983	983		59-2-2493 QD 12/15/2023 10:18:52 PM